Apple has achieved a major milestone by surpassing Rs 1 lakh crore in iPhone exports from India in 2024. According to reports, the company shipped iPhones worth $12.8 billion (Rs 1.08 lakh crore), marking a 42% growth compared to the previous year. This remarkable performance highlights the impact of the Indian government’s Production-Linked Incentive (PLI) scheme for smartphones.
Apple success in iPhone exports from India has been matched by significant growth in domestic production. Early estimates suggest that the company’s production in India grew by 46% in 2024, reaching $17.5 billion (Rs 1.48 lakh crore). This reflects Apple’s increasing focus on local manufacturing and assembly to meet both domestic and international demand.
Apple Retail Expansion
Experts attribute Apple’s impressive growth to its aggressive retail expansion and increased local value addition. When the PLI scheme began, the local value addition for iPhones was just 5-8%. Today, it has risen to 20% for some models. This shift has been supported by Apple’s efforts to open new retail stores, strengthen its supplier network, and comply with local regulations.
The company’s strategy aligns with India’s growing premium smartphone market, where demand for high-end devices continues to rise. Industry reports suggest that Apple’s annual production in India could reach $30 billion in the coming years, potentially increasing India’s share in the global iPhone market from 14% to over 26%.
Apple’s focus on local manufacturing has created approximately 175,000 direct jobs in India. Notably, over 72% of these positions are held by women, showcasing Apple’s commitment to inclusive growth.
Rising Demand for iPhone
The growing trend of premiumisation in India’s smartphone market has further fueled Apple’s success. With attractive financing options and competitive pricing for premium models, more consumers are choosing iPhones. Experts predict that Apple’s iPhone sales in India could grow by 20% in 2025, reaching around 15 million units.
In addition to exports, Apple is steadily increasing its presence in India’s retail market. The company has opened new stores in major cities, focused on premium customers, and offered price cuts on older iPhone models. These efforts have positioned Apple as a leading brand in India’s high-end smartphone market.
Apple Growth in Indian Market
India’s smartphone market is expected to exceed $50 billion by 2025, with premium brands like Apple driving much of this growth. Observers believe Apple’s influence in the Indian market will continue to rise as it expands its operations and adapts to local consumer preferences.
Apple success in iPhone exports and local production demonstrates its strong commitment to India. With aggressive expansion plans, job creation, and a focus on premiumisation, the company is set to play a significant role in shaping India’s smartphone market in the coming years.
